Raise Job Satisfaction Without Giving Raises

A great business is run by motivated entrepreneurs and equally invested employees. Many studies have found a link between reported levels of job satisfaction and productivity in the workplace. Here are some ways a small business owner can keep job satisfaction high without giving raises.

1) Small Rewards
Small business owners can reward great employees in ways that are more budget friendly than offering a raise. Granting more vacation time is a popular way to say thanks for a job well done. Some other small rewards can be given in the form of gift cards, show tickets, or even just company-wide recognition.

2) Thanks
A classic “thank you” for a job well done can go a long way. The feeling of being appreciated can do wonders for an employee’s morale. Highlighting a person’s strengths, either privately or publically, is a great way to show that you think they are doing a good job or reinforces the good behavior.

3) Respect
Treating all employees with respect and trust is another way to bolster job satisfaction. Studies show that when employees feel heard and like their lives matter, they are better performers and work harder. But this goes a level deeper too. Showing that you trust your work force, especially management, makes employees want to live up to those expectations.

4) Job Security
If an employee feels like they are always on the edge of loosing their job, or if they feel like there is no room for advancement within the company they are more likely to move on. Keeping a clear line of communication open and having discussions about the possibility of future promotions are great ways to foster the feeling of job security.

5) Inviting Work Place
From providing comfortable work areas, to setting up a cozy lunch or common area, an inviting space means employees are likely to spend more time in the office. Besides the obvious benefits of having your employees feel welcome in the work place, and inviting space fosters employee communication, which may lead to inventive ideas or problem solving.